Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 5 (15 marks) milah started her business

Question 5 (15 marks) Milah started her business on 1st January 20x4. Below...

80.2K

Verified Solution

Question

Accounting

Question 5 (15 marks)

Milah started her business on 1st January 20x4. Below are the business transactions

Date

Transactions

Amount $

20x9

Jan-01

Owner contributed into the business

50,000

May-02

Business paid rent by cash

500

Apr-03

Business paid salary by cash

700

May-07

Provided services on account to Lim

10,000

Jun-08

Provided services and collected cash

7,500

Jul-09

Lim paid the business by cash

?

Aug-10

Purchased goods by cash

4,000

Sep-14

Owner withdrew cash for personal use

400

Oct-13

Provided services on account to Ng

24,000

Nov-18

Purchased goods on account from Tim

1,500

Dec-19

Business paid Tim by cash

?

a) Prepare the double entry for all the transactions. The first one is done for you

Date

Particulars

Dr $

Cr $

20x9

1-Jan

Cash

50000

Capital

50000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Describe theoretical and regional flood frequency analysis method for computation of flood hazard.

Civil Engineering
Q

Marcie is hired by Susan’s Wetsuits Inc., to create a web-based marketing strategy for Susan’s new...

General Management
Q

UK climate projections suggest a change in rainfall patterns. This will increase risk of flooding of...

General Management
Q

What is the difference between precision and accuracy? (Hint Refer to Appendix A on page...

Biology
Q

Samantha wants to start a college fund for her daughter Taylor. She puts $37000 into...

Basic Math
Q

ng Distributi Gaca The ages years of three government officials when they died in office...

Statistics
Q

ASAPPP The January 1, 2020 balance in this class 8/20%) was...

Accounting
Q

What is the downside to Beyoncs marketing strategy?

Accounting
Q

I need some help with this one, thank you!

Accounting
Q

When properties transferred by a shareholder in a Section 351 transaction have a net built-in...

Accounting
Q

A company acquires 80% of D company for $600,000 on January, 2020. D company reported...

Accounting
Q

can u pleasee help me with thiss Peyton Manufacturing is trying to...

Finance